Outdoor financials: Quicksilver quarterly revenue down, loss widens - SNEWS

Outdoor financials: Quicksilver quarterly revenue down, loss widens

Quicksilver, Inc. (NYSE:ZQK) reported a revenue drop of 1.4 percent and a bigger loss for its fiscal first quarter 2011.
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Quicksilver, Inc. (NYSE:ZQK) reported lower revenue and a bigger loss for its fiscal first quarter 2011, ended January 31.

The Huntington Beach, Calif.-based outdoor lifestyle clothier and retailer, said on March 10 its latest quartetly revenue dipped to $426.5 million, down 1.4 percent from the same period a year ago. Company officials said revenue was up in constant currency terms for the first time in nine quarters.

Quicksilver’s fiscal first-quarter net loss widened to nearly $16.3 million, or a loss of $0.10 per diluted share, compared to a net loss of nearly $5.4 million, or a loss of $0.04 per diluted share during the same period a year ago.

Quicksilver CEO and President Robert B. McKnight said in a statement the company expects its fiscal 2011 to be a transition year, after some previous financial restructuring, with “growth accelerating in the second half of the year and beyond.”

--Compiled by David Clucas

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